Dragonfly Biosciences Ltd has announced that it will commence the production and distribution of medical cannabis in early 2019, following a joint venture with a leading cGMP pharmaceutical company in Malta.
The product will be manufactured in a 500sq/m dedicated state-of-the-art cGMP facility and exclusively distributed by the joint venture in those EU territories where medical cannabis products are legally permitted to be sold in pharmacies via prescription.
This venture takes advantage of the innovative Maltese regulatory framework, placing Dragonfly at the forefront of innovation for patient treatment through advanced formulations and deliveries.
This new product range marks the launch for both companies into the fast-expanding medical cannabis industry. Usage in Europe has recently been approved in Germany, Poland, Portugal, Czech Republic, Malta and the UK, and is expected to expand.
The Times stated in an article earlier this month that in the UK alone there are 80,000 doctors on the General Medical Council who will be permitted to prescribe the new product.
Dragonfly’s Chief Operating Officer, Hannah Skingle, said: “As we progress with our joint venture, we look forward to supporting the health and wellbeing of patients across Europe.”
Chris Wronski, Chairman of Dragonfly Biosciences, said: “This strategic move allows Dragonfly to not only be leaders in the cannabidiol sector, but expand to the area of medical cannabis.”